Page 25 - Investment Advisor October 2022

Advisors is bringing 95 employees to Overland Park, “Wipfli’s RIA strengthens
Kansas-based RIA Creative Planning, including
CEO Jeff Pierce and 80 advisors, according our presence in the upper
to Creative Planning. They will join Creative Midwest. It’s a great
Planning’s 350 advisors.
“It’s an incredible fit for all parties,” Creative strategic relationship,
Planning’s Mallouk said in an interview. “We [and] Wipfli and Creative
share a planning led approach, investment phi-
losophy and focus on education and credentials.” will enter into a referral
Also, he explained, “Wipfli’s RIA strengthens our presence
in the upper Midwest. It’s a great strategic relationship, relationship as well.”
[and] Wipfli and Creative will enter into a referral relation-
ship as well.” —Peter Mallouk
As part of the deal, the wealth management and investment
advisory affiliate of advisory firm and CPA Wipfli will “main- Explaining why Wipfli Financial Advisors made a deal
tain a significant minority ownership stake” in the venture with Creative Planning, Pierce said in a statement: “From
with Creative Planning, according to a statement. (Overall, leading with financial planning and a similar evidence-
Creative Planning managed or advised on more than $225 bil- based investment approach, to the incredibly strong cul-
lion in client assets as of Dec. 31.) tural alignment and deep commitment to both clients and
The transaction includes Wipfli Financial Advisor’s dig- employees, we knew Creative Planning was the right firm
ital investment tool, Avid, and its retirement-plan ser- for us to join.”
vices group. These additions will “complement” Creative The transaction “creates a strategic relationship that will
Planning’s recent acquisition of Lockton Retirement allow our clients to access a broad set of services through inno-
Services and its emerging wealth division, Creative Planning vative financial platforms,” according to Kurt Gresens, Wipfli
said. Other transaction terms were not disclosed and the managing partner and chairman of the board.
timing of the deal’s closing is subject to certain approvals The deal was Creative Planning’s third transaction this
and conditions. summer, following its June purchase of Rosen Capital
Founded in 1930, Wipfli was named after found- Management, which works with about $114 million in assets,
er Clarence Wipfli. The firm launched Wipfli Financial and Ferris Capital, which manages $755 million assets.
Advisors in 1999 with a “mission to make objective, fidu- Other recent acquisitions by Creative Planning included
ciary-focused financial advice available to the everyday Keystone Wealth Partners ($644 million of assets, Heritage
investor,” according to Creative Planning. The presence of Way Advisors ($450 million), Hatton Consulting ($440 mil-
the Wipfli Financial Advisors team in Colorado, Illinois, lion) and Resource Management ($1.9 billion), all of which
Minnesota, New Hampshire, Montana, Pennsylvania and were announced in April; it also bought Emery Howard ($1.8
Wisconsin “will help us better serve our clients throughout billion) in March and Reilly Financial Advisors ($2 billion)
the U.S.,” according to Mallouk. in January.

Mariner-Financial Services Network
Mariner Wealth Advisors announced in July that it was
acquiring the Financial Services Network, which provides
administrative, compliance and other services to about 400
advisors with $26 billion in assets under administration, for an
undisclosed sum. After the deal closes, the Financial Services
Network will operate as Mariner Advisor Network and will
maintain its strategic relationship with LPL Financial.
The deal aims to “expand the reach of Mariner Platform
Solutions, an affiliate of Mariner Wealth Advisors that offers a
suite of resources to independent financial advisors who seek

OCTOBER 2022 INVESTMENT ADVISOR 23